BlackRock Inc. raised its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11,547,276.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,556,647 shares of the oil and gas producer’s stock after buying an additional 23,556,443 shares during the period. BlackRock Inc. owned 1.41% of Suncor Energy worth $724,366,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of SU. Seven Eight Capital LP purchased a new stake in Suncor Energy during the fourth quarter worth about $105,000. CENTRAL TRUST Co raised its position in Suncor Energy by 90.8% in the first quarter. CENTRAL TRUST Co now owns 3,641 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 1,733 shares during the last quarter. YorkBridge Wealth Partners LLC raised its position in Suncor Energy by 1.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,061 shares of the oil and gas producer’s stock worth $128,000 after buying an additional 42 shares during the last quarter. Howe & Rusling Inc. raised its position in Suncor Energy by 19.3% in the first quarter. Howe & Rusling Inc. now owns 4,143 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 670 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its position in Suncor Energy by 6.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,224 shares of the oil and gas producer’s stock worth $130,000 after buying an additional 238 shares during the last quarter. 65.40% of the stock is owned by institutional investors.
Shares of Suncor Energy Inc. (NYSE:SU) traded down 2.68% on Tuesday, reaching $28.72. The company had a trading volume of 5,568,719 shares. The stock’s 50 day moving average is $31.16 and its 200 day moving average is $31.48. Suncor Energy Inc. has a 52 week low of $25.70 and a 52 week high of $33.79. The firm has a market capitalization of $47.94 billion, a price-to-earnings ratio of 41.03 and a beta of 0.82.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Monday, June 5th will be paid a dividend of $0.2371 per share. This represents a $0.95 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Thursday, June 1st. Suncor Energy ‘s dividend payout ratio is currently 141.79%.
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A number of research firms have recently commented on SU. Scotiabank lowered Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, June 9th. Zacks Investment Research lowered Suncor Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Simmons dropped their price objective on Suncor Energy from $43.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) raised Suncor Energy from a “buy” rating to a “conviction-buy” rating and lifted their price objective for the company from $25.00 to $34.00 in a research note on Wednesday, April 5th. They noted that the move was a valuation call. Finally, Canaccord Genuity reissued a “buy” rating and set a $52.00 price objective on shares of Suncor Energy in a research note on Saturday, March 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Suncor Energy presently has a consensus rating of “Buy” and a consensus target price of $42.49.
About Suncor Energy
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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